Ho Ching

The state investment company had to write off its entire investment of US$275 million in November 2022.

"Let's keep calm, as we continue to tend to the fields and fry other fishes," says Ho Ching.

"We have a collective and shared responsibility between us... to foster lifelong learning and to prepare ahead for retirement.”

How would Temasek forge ahead under Pillay’s leadership?

When asked why she wasn’t staying on as a director, Ho responded it was important to give her successor and his team some space.

Temasek was also an early investor in fintech giant Ant, whose record initial public offering was scrapped by regulators.

Temasek’s announcement of Ho’s resignation will not be the first time.

Temasek Holdings Pte. Chief Executive Officer Ho Ching suggested Singapore’s state-owned investor could still have a portfolio value of more than $300 billion, or not very far from that, despite the impact of Covid-19 on the global economy.

Temasek Holdings typically reports its annual results in July but because of the Covid-19 outbreak which has disrupted business operations all over the world, many of its portfolio companies have postponed the reporting of their results.

Singapore’s Temasek Holdings Pte plans to spend more than $800 million on efforts to combat the spread of Covid-19, according to Chief Executive Officer Ho Ching.